Ballentine Partners LLC Makes New Investment in KeyCorp (NYSE:KEY)

Ballentine Partners LLC bought a new position in KeyCorp (NYSE:KEY) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 12,163 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Pathway Financial Advisers LLC bought a new stake in shares of KeyCorp in the first quarter worth $25,000. Wolff Wiese Magana LLC grew its holdings in shares of KeyCorp by 285.5% in the third quarter. Wolff Wiese Magana LLC now owns 1,542 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 1,142 shares during the period. Crewe Advisors LLC bought a new stake in shares of KeyCorp in the first quarter worth $32,000. Fidelis Capital Partners LLC bought a new stake in shares of KeyCorp in the first quarter worth $39,000. Finally, Hexagon Capital Partners LLC grew its holdings in shares of KeyCorp by 189.6% in the third quarter. Hexagon Capital Partners LLC now owns 2,311 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 1,513 shares during the period. Institutional investors own 79.69% of the company’s stock.

KeyCorp Price Performance

Shares of KeyCorp stock opened at $17.39 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $16.40 billion, a price-to-earnings ratio of 1,739.00, a PEG ratio of 0.94 and a beta of 1.25. KeyCorp has a 52 week low of $9.89 and a 52 week high of $17.94. The stock’s 50-day simple moving average is $16.76 and its 200-day simple moving average is $15.46.

Wall Street Analysts Forecast Growth

Several analysts recently commented on KEY shares. Royal Bank of Canada lifted their price objective on KeyCorp from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Robert W. Baird lowered KeyCorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $17.00 in a report on Monday, October 14th. Morgan Stanley lifted their target price on KeyCorp from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 14th. DA Davidson lifted their target price on KeyCorp from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $18.00 target price on shares of KeyCorp in a research report on Tuesday, September 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, KeyCorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.79.

Insider Buying and Selling

In related news, Director Carlton L. Highsmith sold 10,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.21, for a total value of $162,100.00. Following the sale, the director now directly owns 46,864 shares in the company, valued at approximately $759,665.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.67% of the stock is owned by company insiders.

About KeyCorp

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; commercial leasing, investment management, consumer finance; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.